FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

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FMG

FMG - FORTESCUE LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.7
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Fortescue Metals is an Australian iron ore company with operations in the Pilbara, Western Australia. It is the fourth largest iron ore producer in the world and became a listed company, through a backdoor-listing, in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$17.70

27 Aug
2026

0.150

OPEN

$17.55

0.85%

HIGH

$17.74

7,784,449

LOW

$17.49

TARGET
$18.20 2.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . CIA . DRR . FEX . GEN . GRR . MGX . MIN .
FNARENA'S MARKET CONSENSUS FORECASTS
FMG: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 128.8 xxx
DPS (cps) 71.7 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 14.0 xxx
Dividend Yield 4.0% xxx
Div Pay Ratio(%) 55.6% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 5.04%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.98

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 02/03 - ex-div 82.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx137.7
DPS All xxxxxxxxxxxxxxx108.0
Sales/Revenue xxxxxxxxxxxxxxx25,037.5 M
Book Value Per Share xxxxxxxxxxxxxxx952.0
Net Operating Cash Flow xxxxxxxxxxxxxxx10,024.7 M
Net Profit Margin xxxxxxxxxxxxxxx16.92 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx14.17 %
Return on Invested Capital xxxxxxxxxxxxxxx11.19 %
Return on Assets xxxxxxxxxxxxxxx8.93 %
Return on Equity xxxxxxxxxxxxxxx14.17 %
Return on Total Capital xxxxxxxxxxxxxxx20.62 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,489.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx603 M
Long Term Debt xxxxxxxxxxxxxxx7,958 M
Total Debt xxxxxxxxxxxxxxx8,561 M
Goodwill - Gross xxxxxxxxxxxxxxx281 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx7,324 M
Price To Book Value xxxxxxxxxxxxxxx2.01

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx4,803.6 M
Capex % of Sales xxxxxxxxxxxxxxx19.19 %
Cost of Goods Sold xxxxxxxxxxxxxxx15,715 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,431 M
Research & Development xxxxxxxxxxxxxxx577 M
Investments - Total xxxxxxxxxxxxxxx283 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.1

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

21/08/2026

3

Hold

$17.10

-3.39%

Bell Potter describes Fortescue's FY26 result as mixed, with revenue and underlying EBITDA slightly ahead of forecasts and consensus, but underlying NPAT and the final dividend falling short.

Record iron ore shipments of 201.3Mt and a 7% increase in realised prices supported earnings, although C1 costs rose 4% amid higher energy prices and inflation.

The broker views the outlook as challenging, with FY27 guidance implying around 13% cost inflation, while subdued iron ore fundamentals, a stronger AUD and potential pricing pressure from Chinese buyer CMRG present further risks.

Bell Potter retains its Hold rating and lowers the target to $17.10 from $17.40.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 60.00 cents and EPS of 77.06 cents.
Bell Potter forecasts a full year FY28 dividend of 65.00 cents and EPS of 103.23 cents.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

24/08/2026

4

Underweight

$15.40

-12.99%

Jarden maintains its Underweight recommendation for Fortescue with its target price reduced to $15.40 from $15.60 following a weak FY26 result featuring reported net profit after tax of US$2.9bn, landing -20% below consensus on -US$1.3bn of pre-tax impairments and one-offs.

Underlying net profit after tax of US$3.5bn also missed expectations due to higher corporate costs and tax, while the FY26 dividend per share of $1.08 landed -4% below consensus at a 65% payout ratio.

Reservations regarding the Green Grid remain unchanged, with the analyst understanding the core decarbonisation case but seeing no commercial framework for the incremental opportunity amid a -$680m 200MW expansion targeting third parties with no disclosed customers, return hurdles, or timing.

The overall investment thesis remains unchanged based on a backwardated price deck and Simandou supply meeting ex-growth steel demand, amplified by the introduction of 55% iron products.

The broker's estimates reflect these ongoing pressures, Underweight.
Access Extra Coverage Research History >

FMG STOCK CHART

FNArena News on FMG

1
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 21-08-2026

Aug 21 2026 - Australia
3
Rudi’s View: Beats, Misses And Early AI Signals

Aug 19 2026 - Rudi's View
4
Rudi Interviewed: Bear Market Be Gone

Aug 13 2026 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 07-08-26

Aug 10 2026 - Weekly Reports

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Aug 05 2026 - Commodities
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Apr 14 2026 - Technicals
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